Propanc Health Group Corp. (OTCMKTS:PPCH)’s Slide Intensifies
Propanc Health Group Corp. (OTCMKTS:PPCH) lost another 13.31% of its market value yesterday in its third red session in a row.
Interestingly enough, the news that PPCH has entered into a biomarker discovery agreement with a company called Adaptive Biotechnologies did little to improve PPCH‘s market standing. Such announcements have a tendency to generate hype, but evidently this time around investors were not to be moved. And since the press release failed to push the ticker upward, naturally it went down. Why?
Because PPCH has nothing else that could have kept it afloat. Its financials for Q1 2015 can be called “unimpressive” at the best of times:
- Cash – $168 thousand
- Current Assets – $308 thousand
- Current Liabilities – $2.1 million
- NO REVENUES
- Net Loss – $454 thousand
And PPCH‘s structure is arguably in even worse shape than its balance sheets. The fact that 244 million out of the 355 million shares outstanding that PPCH had as of May 15, 2015 have been issued in the last seven months should be indicative enough of the way PPCH takes care of investor value.
And the worst part is that the better part of two months has already gone by since that number was accurate – who knows how much more toxic dilution has been dumped on investors since then?
This being the case, is it any wonder that the ticker is falling?
